Nigeria ranks as the 4th largest source country for study permits to Canada according to reports, which is a recent update on the economic impact of international education in Canada.
Study permits from Nigeria, India, Phillipines, Hong Kong and Colombia combined contributed $30.9 billion to Canada’s GDP in 2022, amounting to 1.2% of Canada’s GDP for that year.
The report, which includes both long-term students at schools, colleges, and universities, as well as short-term students, highlights that international education “plays an important role in the globalization of [the Canadian] economy, allowing it to thrive in a fast-changing and competitive environment.”
The report also reveals that the number of international students in Canada surged by a significant 61% from 2016, when there were 523,971 international students, to 2022, when the number reached 844,444.
The update estimates that international students spent approximately $37.3 billion on “tuition, accommodation, and discretionary items,” even when accounting for Canadian scholarships and bursaries.
This spending supported the equivalent of 246,310 jobs in Canada and contributed a substantial $7.4 billion in tax revenue in 2022.
“The year 2022 saw the highest number of long-term students in Canada, following a dip in 2020 and 2021 due to travel restrictions brought on by the COVID-19 pandemic,” the report stated.
The analysis further indicated that the economic contributions of international students to Canada continues to grow. With the increasing number of international students, overall spending more than doubled between 2016 and 2022, rising from $15.5 billion to $37.3 billion, which represents an annual increase of 15.7%.
The report noted a steady increase in the number of overseas students in the country, with previous reports published in 2008, 2010, 2014, 2015, and 2016 all documenting consistent growth.
The role of international education in the economy and global exchange
The substantial presence of international students in Canada, particularly from countries like Nigeria, India, the Philippines, Hong Kong, and Colombia, highlights the significant role that global education plays in the economy and cultural exchange.
